In this episode, I sit down with Alex Pardo, a self-storage magnate who transitioned from a thriving wholesaling and house-flipping career to building wealth through self-storage facilities. Alex shares his raw and honest story of realizing he’d built a stressful business that left him feeling stuck, and how he used Profit First principles to regain control of his finances and peace of mind — both in business and at home with his wife.We unpack what it really takes to pivot into self-storage, why he believes it’s one of the most overlooked but recession-resistant assets available to investors, and how Profit First helped him save aggressively for big capital expenses. Alex also discusses who should consider investing in storage, what makes a deal profitable, and how adopting a disciplined money system strengthened his marriage and overall life satisfaction.Timeline Summary:[0:00] – Welcoming Alex and swapping Monopoly stories that reveal his competitive edge.[1:59] – Alex’s first exposure to Profit First through Mike Michalowicz’s books and why it felt like a lightbulb moment.[5:00] – How implementing Profit First let Alex save for a $100K+ CapEx budget, giving him confidence to move forward with major facility improvements.[8:00] – How Alex and his wife adopted Profit First at home with dedicated accounts for vacations, Christmas, and giving — creating harmony in their marriage.[12:52] – What led Alex to ask himself the crucial question that sparked his exit from the wholesaling rat race.[14:35] – Why he calls scaling his wholesaling business “irresponsible growth” and how his experience taught him to value peace over profit.[16:02] – His initial fears about moving into self-storage, and the surprising ways his wholesaling skills carried over perfectly.[18:18] – A look back at whether he regrets leaving wholesaling given the hot post-Covid market, and why he doesn’t.[21:04] – The powerful “play the movie forward” exercise Alex uses to make big decisions with intention.[23:06] – His success story of acquiring, stabilizing, and selling a 638-unit storage portfolio — and why he only needed 1-3 good deals per year to move the needle.[25:23] – Why self-storage can be semi-passive after stabilization, and how Alex spends just 1-2 hours a week managing hundreds of units.[27:04] – Breaking down the three phases of acquiring a storage facility: marketing and analysis, financing and due diligence, and maximizing operations.[29:03] – Why self-storage is recession-resistant: the unique psychology of people downsizing but unwilling to part with their stuff.[32:05] – The differences in operating expense ratios between storage (30-40%) and multifamily (45-55%) — and why this margin creates more breathing room.Key Takeaways:Asking yourself tough questions — like whether you’d want to be doing the same thing a year from now — can change your entire trajectory.Profit First isn’t just for business; applying its principles at home can bring couples closer and build long-term stability.Your existing real estate skills may translate seamlessly into self-storage — don’t underestimate how much you already know.Location and demographics are critical; a rough market can mean higher break-ins and delinquencies, even in storage.Storage can provide high cash flow with lower management demands than single-family or multifamily rentals — making it ideal for those seeking freedom.Links & ResourcesLearn more about self-storage investing and get free training from Alex at https://storagewins.comIf you want to keep more of what you make with Profit First, visit https://simplecfo.com

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